Nasdaq repurchases preferred stock held by NASD for $40 million

By Sheri Kasprzak

Atlanta, April 27 - The Nasdaq Stock Market, Inc. said it has repurchased series C cumulative preferred stock from the National Association of Securities Dealers for $40 million.

The company repurchased the 384,932 shares of preferreds as a condition of a waiver granted by the NASD to finance Nasdaq's merger with Instinet Group Inc. and Norway Acquisition Corp.

The repurchase included all accrued and unpaid dividends on the preferreds.

Nasdaq is based in New York. On Wednesday, Nasdaq's stock closed up $0.32 at $14.41.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.